Student Loan Rehabilitation And The Effect On Tradelines

[BrokaToe]

Congrats!  For sure keep us posted...I bet you're gonna see a huge jump in your scores

[ch8ngeurstars]

Just so everyone knows my new screenanme will be     Ch8ngeurstars (whenever it actually updates)

[FicoTron]

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@Anonymous wrote:
So I just read the entire thread and this is what I've been looking for!!! Thanks FicoTron!!

Ok so my 9th payment for my rehab was in Feb through CTI for DoE. It took about 2 months for Great Lakes to pick up the loan. After my 1st payment in May TU and EQ reported the new loan as being paid as agreed and shows it was opened in '03. EX didn't show reported until June.

I had a total of 4 duplicate TL's but one was removed on all 3 CRs. I currently still have 3 diplicate TL's still reporting as delinquent to all 3 CRs. I called DoE at the beginning of June to ask if they were goin to remove the duplicate TLs, and I was told that a request was submitted at the beginning of May and it could take up to 30-60 days for it to go through. The guy also decided to go ahead and resubmit the request just in case the 1st didn't go through. So a couple of weeks later I decided to call again just to make sure a request was submitted and again I was told it had been and then I was told that I had a refund coming from DoE as well and just to allow time for everything to process. So again I wait a couple of weeks (mid July at this point) and I call to make sure there has been a request submitted for the removals. The rep I spoke to stated that one was sent July 6th. This was odd because she never mentioned the one sent in may or the one in June, and this was my 1st time calling in July so it was odd that there was a requeste sent on the 6th. So again waited a couple of weeks and decided to call again this past Tues and again I was told a request was sent on July 16th and that DoE was so far behind in refunds they couldn't even give me a date for that.

So here I am a total of 15 months (9 months of rehab, 6 months in trying to get the TLs removed) and I'm still showing the duplicate neg TLs. Mind u I also have a credit repair agency working on this as well. Any advice from anyone as to any additional steps I should take? Should I call everyday? Should I try and dispute them myself? I was actually hoping these would have been removed back in June at least because I was trying to get approved for a mortgage loan.

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dispute them. No question.  Light a little fire under their ass.

[Anonymous]

hello Fico Tron

I justed stared following your tread and read all of them till this one. Well, i justes payed my last , 9 payment and am waiting for the good news 8/15/12 i have been slowly improving my credit score down from 520 and up to 614 TU a d Karma is only reporting it at 586 go figure. I have many trade line for my loans about 10 since i went thjrough the whloe gambit and consolidated them all through Great Lakes . About half of them show that they are paid off and the rest show 120 days or more not paid. I hope my luck will be as fruitfull as yours have been. I am a little more savy at dealing with the credit B and already have deleted all oustanding collection acounts and some 30 days and jidgements ect. The one thing i dont unedrstand my student loans were and are in collections but do not show as they are in collellection. Maybe they say however that the gov took them over and i hope that will come off.  Well tyhanks for the insights of your journey down the credit bways. Wizardcatcher

[cem13]

I made my 9th payment to a rehab program on Aug 10th (for Sept 1 payment).  I have 3 separate loans through the DOE, so I only have 1 rehab payment.  Rehab company said the loan will be transferring back to DOE "shortly".  I called DOE 5 min later and they basically confirmed the transition back to DOE is slow.  Once the DOE takes possession of the account, I will get a call to set up the "new" terms.  US Congress & POTUS has given DOE great latitiude to help borrowers.

While I was on the phone, the CSR deleted all three tradelines for my account.  Today (20AUG) I looked at my Experian report and it has been deleted (10 days).  Exuifax and TU has NOT deleted them yet but I expect it shortly.  My EX FAKO score jumped 60 points so I am expecting a similar jump in FICO scores.

Does anyone know if the new tradeline will start with a current date instead of the original date (which will affect AAoA)?  I will take the dropped tradeline for a new account any day but if I had my choice I would want the new tradeline to report "good" from the original date.

[BrokaToe]

The new tradelines should be placed on your reports with the original opening date.

For instance when my new tradelines are added.  The should be in good standing all the way back to 2002.

[Anonymous]

Nelnet	XXXXX2349	6/2006	$6,455	Pays account as agreed	No	Details
Nelnet	XXXXX2249	10/2005	$6,455	Pays account as agreed	No	Details
Nelnet	XXXXX2449	10/2005	$6,328	Pays account as agreed	No	Details
Nelnet	XXXXX2549	6/2006	$6,161	Pays account as agreed	No	Details
Aes/Pheaa	XXXXXXXXXXXXX0003	6/2006	$0	Pays account as agreed		Details
Wf Efs	XXXXXXXXXXXXX0003	6/2006	$0	120+ days past due		Details
Aes/Pheaa	XXXXXXXXXXXXX0004	6/2006	$0	Pays account as agreed	No	Details
Aes/Pheaa	XXXXXXXXXXXXX0002	10/2005	$0	Pays account as agreed	No	Details
Aes/Pheaa	XXXXXXXXXXXXX0001	10/2005	$0	Pays account as agreed	No	Details
Wf Efs		6/2006	$0	Pays account as agreed	No	Details
Wf Efs		6/2006	$0	Pays account as agreed	No	Details
Wf Efs		10/2005	$0	Pays account as agreed	No	Details
Wf Efs		10/2005	$0	Pays account as agreed	No	Details

Wf Efs	XXXXXXXXXXXXX0002	10/2005	$0	Pays account as agreed		Details
Wf Efs	XXXXXXXXXXXXX0001	10/2005	$0	Pays account as agreed		Details
Wf Efs	XXXXXXXXXXXXX0004	6/2006	$0	Pays account as agreed		Details

I recently completed rehab, above are the tradelines still on my equifax report.  Nelnet bought by rehabbed loan, there were 4 loans, all of the other tradlines I thought were to be removed.  I have no idea as to how to get these lines removed from my report.  WF Efs are duplicating lines and AES/Pheaa is showing lates on only one of the lines.  They never showed this prior to rehab.  I am at a complete loss, the only lines that were fixed from the orignal credit report are the ones that said NSLP.  If anyone could help it would be greatly appreciated.

[dlee]

In the case that you rehabilitate your defaulted student loans, the status of your loans on your credit report can be changed from "defaulted" to "transferred." However, the individual delinquent remarks due to late payments will remain on your credit report for approximately seven years.

[bahbahd]

Nelnet seems to be the worst at sticking to the 'proper reporting of late payments' where as many other lenders, guarantors and loan servicing agents seems to be much more lenient on following the exact laws on this. Even the DoE has been removing negative accounts after rehabilitation.

[Kathy4NU]

The way I understood it is that only the loans that you are paying on through rehab will have the negative removed.

If you had other loans that were consolidated and than rehabed the negative tradelines in the original loan before consolidation will bot be removed.

I have 4 loans being reported.  One was never late and was included in consolidation, one was defaulted on and included in consolidation.  Two are the result of the consolidation and are defaulted on. I am currently in rehab (month 4).  The two that all my loan amounts are consolidated in will have the negatives removed and updated once rehab is done.  The one that has negatives but reflects a zero balance because I consolidated it will remain with negatives in it (that one is 6 years old for me).  The one that was paid in full due to consolidation will remain as is.